KBank Partners with Ripple for Onchain Cross-Border Remittances

KBank, the largest digital-only bank in South Korea, has entered a strategic partnership with Ripple to test onchain cross-border remittances using Palisade wallet.

The collaboration, now in its second proof-of-concept phase, is evaluating the stability, speed, cost, and transparency of blockchain-based transfers to markets including the United Arab Emirates and Thailand.

KBank's use of Palisade wallet is part of Ripple's $4 billion in crypto-related investments. The company acquired Palisade earlier this year as part of its expansion efforts.